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PalmSource forecasts Q3 breakeven

Big loss on rising revenue in Q2, though

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Palm OS owner PalmSource yesterday reported revenues of $16.8 million for Q2 2004, its first fiscal quarter as company in its own right.

That figure marks a 13 per cent increase over the same period last year, at which point PalmSource was operating as an independent business within Palm, now renamed PalmOne following last October's split with PalmSource.

However, the gain wasn't enough to turn the company around. Quite the reverse: it lost $9.1 million (89 cents a share) during the quarter, which ended on 28 November, compared to an $8.3 million loss this time last year.

PalmSource's margins stand at 94 per cent, up from 81 per cent last year. During Q2, license and royalty revenues increased by 14 per cent to $15.5 million.

Looking ahead, PalmSource said it expects revenues to grow during Q3 to reach between $20 million and $22 million. It also expects its loss to shrink - we'd hope so, given those margins - to $2 million and possibly even to zero. ®

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